5 comments:

I like your site, but it seems like if you don't make a comment on something the very day it gets posted, then the conversation gets lost never to be seen again....This might happen to this conversation because I'm a little late. Anyway, speaking of retirement, what does anyone thing about the rumors of Social Security going bankrupt.......in 2010. Does anyone but the fringe actually believe this?

Anonymous, Socialist Insecurity has ten trillion dollars of unfunded liabilities or so, so it is actuarially bankrupt. However, it also is sitting on two trillion dollars or so of government bonds, so it can use those for the next few years to cover the fact that it is no longer collecting enough tax revenue to break even.

There are going to be some tough decisions with it and Medicaid in the next few years, especially as Medicaid's unfunded liabilities are around fifty trillion dollars, assuming current patterns of expenditures.